Connecticut home prices registered double-digit gains in February as median single-family prices hit $300,000 and sales volume rose to a 16-year high.

The condo market also showed continued strength, with median prices rising 12.5 percent on a year-over-year basis to $180,000. The median sales price was the highest for the month of February since 2008, according to the latest report from The Warren Group, publisher of the Commercial Record.

“Historically, February marks a low point in the year for both prices and sales, but the median sale price has now been at $300,000 statewide for two consecutive months. If what we saw in February represents the floor for single-family sales in 2021, we’re in for a red-hot spring and summer market,” said Timothy Warren, CEO of The Warren Group.

Fairfield County had the state’s strongest performance, as single-family sales volume and median prices both skyrocketed by over 45 percent. The median sales price hit $582,500, up from $400,000 in February 2020.

February’s single-family sales volume of 2,200 transactions represented a nearly 25-percent increase from February 2020, and the highest level since 2005. Prices rose 22.5 percent on a year-over-year basis

Condo sales rose 20.1 percent on a year-over-year basis to 652, and median prices spiked 12.5 percent to $180,000.

“If the current level of demand continues to outpace supply, I fully expect the median statewide condo price to set new records in the coming months,” Warren said in a statement.